Debating the Customs and Excise (Amendment) (No 2) Bill 2012, Mr Sogavare said it has been a long time concern of businesses here that they are heavily taxed upfront before they even begin to earn income.
“Our ultimate objective is to design a tax system that strikes an acceptable balance between the attributes of good tax system,” the East Choiseul MP said.
He said the onus to make the country’s tax system fairer and equitable is vested on the government.
“Which if attained will reduce the need to resort to quick fix strategy like tax exemptions to make the system fairer for taxpayers,” he said.
“An important pre–requisite to attaining this outcome is to rationalise the effects of the different types of government imposts on the same tax payers.
“I have mixed filling when I see the retail, wholesale, building, mining, logging and the services sectors thriving.
“We are not actively directing the flow of capital to sectors that are anchored on our inherent strength and considered more sustainable and export oriented.”
By Elliot Dawea
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